Wipro Consumer Care & Lighting said on 18 August that it would acquire a 60% stake in premium skincare brand Dermatouch at an enterprise value of INR 387.5 crore, marking its entry into India's premium skincare market.
Why Wipro Consumer Care & Lighting (Wipro Enterprises) is buying Dermatouch
Wipro said the deal extends its global skincare expertise, built on brands such as Bio-essence, Dr. Dermis and Derma Lab, into India's premium segment, and that it would only buy digital brands able to expand offline, which Dermatouch had already done.
“Dermatouch represents an exciting opportunity for us as our first foray into digital brands.”
Deal terms and financing
Wipro is acquiring 60% now at an INR 387.5 crore enterprise value and will buy the balance over three years. Co-founders Anish Nagpal and Amit Purswani and the existing management will continue to run the business.
Market context
Dermatouch sells concern-based products for pigmentation, acne, brightening and sun protection through its own website, online marketplaces and a growing offline network, and now sells more than 60,000 products a day. The transaction is by unlisted Wipro Enterprises and is unrelated to listed IT group Wipro Ltd.
